It fell like a bomb! The claim came from the AK Party that it will reduce the dollar by 9 10 liras overnight.

It fell like a bomb! The claim came from the AK Party that it will reduce the dollar by 9 10 liras overnight. – With the currency crisis that broke out in Turkey in November 2021, every item was hiked across the country. With the start of the exchange-protected deposit project, the dollar fell by 8 TL. While the markets throughout the country were waiting in a state of surprise, there was a serious decline in the dollar with the panic sales. Now, the claim that the plan that will reduce the dollar by 9 liras from the AK Party wing has been leaked to the press has made a great impact.

As of November last year, the policy interest rate policy in Turkey went into a regression. With the change made, the economic crisis that occurred while many products were raised on top of a price increase throughout the country created a great panic atmosphere in the government.

While the dollar could not be avoided and the rise continued with each passing day, the Currency Protected Deposit (KKM) project was activated by the government in this process. With this move, the dollar fell by 8 liras, creating a shock effect across the country. While there are many claims about this project, which was announced that the project will not be long-lasting and the state will lose, nowadays, the plan from the AK Party wing to reduce the dollar to 9 liras a night has had a great impact on the agenda.


According to the information conveyed by Turhan Bozkurt, a Paraanalysis economics writer in Turkey, the Central Bank (CBRT) and the BRSA are cooking boza on the necks of banks. Phones are not silent. As one ends, another begins.

Here is that column written by Turhan Bozkurt..

Do not give credit to this”, “Increase the speed of transition to currency-protected deposits” or “Buy foreign currency”, now it’s time for foreign currencies held abroad.

The Central Bank told the banks, “We know that you hold high foreign currency balances in correspondent banks abroad. Bring those foreign currencies to Turkey” he instructed.


“Two weeks ago, when the treasury manager of a bank quoted these words, “Did they get that far?” However, my source was very confident and said, “They even gave me until October. They will get a report card of who brought how much foreign currency.” said.”

Turhan Bozkurt claimed that flash developments are expected in this month for the banks, which were given time until October.


Turhan Bozkurt explained that he met with the banker in order to confirm the allegations, and he confirmed that he was surprised by this situation. Here are the rest of the conversations.

Another banker I spoke to to confirm the claim said, “Yes, it’s true. Everyone is shocked.” used the phrases.

The same banker emphasized that foreign currency is kept at correspondent banks in order to provide fast and low-cost service to customers abroad and added:

Şahap Kavcıoğlu brought foreign currencies to the table whenever he met with the general managers of the bank, starting from March 20, 2021, when he replaced Naci Ağbal as the Chairman of the Central Bank.

Although bank general managers try hard not to laugh every time, none of them say, “This is actually not possible.” didn’t say, didn’t say.

The general managers of some banks consult Ankara every step of the way in order not to get zılgıt. There are bank general managers who receive verbal approval from Ankara for the branch manager, even for the security guard.

Turhan Bozkurt continued his statements about bringing foreign currency from abroad. Here are the other details..

“Because it is costly for banks to open branches abroad in terms of legislation and time, a cooperation agreement is signed with a bank in those countries instead. It is less costly to carry out all transactions from money transfer to letter of credit in return for a certain commission, through a correspondent bank.

Thus, a bank operating in Turkey can provide services to its customers, especially those who are engaged in foreign trade or who have investments in different countries, even without a branch abroad.

For the mechanism in question to work, there is no other choice but to hold foreign currency at the correspondent bank. It should not be viewed only in terms of dollars, euros or sterling. It must also be purchased in the currency of the country where the correspondent bank is located.”

After these statements, it is stated that a new activity is expected in the dollar. – ANKARA